Socksi is an amazing business where we sell the snazziest novelty socks!
Financials and traffic
Profit margin is strong but can be improved by investing in more stock with higher quantity orders and fostering relationships with new and existing suppliers.
Average overall profit margin
Average number of sales/month
Value of inventory
Revenue and traffic data from this graph is calculated by Exchange and can not be edited by the seller. Average profit, profit margin and number of sales are provided by the seller. Learn how Exchange calculated this data.
The primary expenses include Google Suite for email, Shopify, apps, and ads.
Do you work with any employees, freelancers, or contractors?
I employed a freelance Social Media Manager to assist me with everything regarding ads, influencers, the content posted on social media, email marketing campaigns, etc. It was a great investment which saved me time and money in the long run and I would recommend the new owner to look into hiring a freelance SMM as well.
Why should someone buy this store?
Socksi is a legitimate business unlike some Shopify stores. Socksi is more than the typical dropshipping store, we have stock and have plans to expand the business exponentially. We have an LLC filed for Socksi as well as business banking accounts setup as well. The business has been setup properly from the start. The market is there and Socksi is positioned perfectly for the next owner!
How can the future owner improve the business?
I would recommend that the new owner of Socksi to look into Amazon FBA to leverage the power of the Amazon platform and I would also recommend the new owner to further nurture relationships with our suppliers to expand the product line. Marketing is also a key factor which I invested in heavily and I am willing to assist the new owner on this front.
What work have you put into the store?
Socksi has been started from the ground up. Everything was created from scratch including the theme has been heavily customized to incorporate key selling points which I have identified for the market. Mailchimp email marketing blasts have been automated and customized to attract current and potential customers. Facebook, Pinterest, Instragram, & Google ads have already been created and modified with hours poured into the optimization of these ads. They are proven effective and are ready for the new owner to simply turn on. I have also setup various sales channels including Pinterest, Instagram & Google Shopping. Taxes and finances are configured properly and tracked using Quickbooks. All social media accounts are setup and ready for the new owner to take control. Relationships are already in place with manufacturers and are ready for the new owner as well. The store has been setup properly from the ground up and is ready for a new owner!
How many hours does it take to run this business per week?
I currently work in IT but I am in the process of changing careers. Unfortunately, because of this I have lost the time to fully work on Socksi. I am an avid entrepreneur and am excited to pass Socksi onto another great entrepreneur to make it as successful as I know it can be!